France Telecom has said that it has no “specific timetable” for selling its minority stake in the Portuguese telecoms/media group Sonaecom.
FT holds a 20% stake in Sonaecom. The Portuguese conglomerate Sonae holds the majority stake (53.17%).
A…
France Telecom has said that it has no “specific timetable” for selling its minority stake in the Portuguese telecoms/media group Sonaecom.
FT holds a 20% stake in Sonaecom. The Portuguese conglomerate Sonae holds the majority stake (53.17%).
A France Telecom spokesman told TelecomFinance that at the moment “we don’t have any specific timetable” for selling the Sonaecom stake.
However, he added that FT’s position had not changed since July and that it was still looking to get out of its minority investments in other companies.
In a public strategy document published in late May, France Telecom announced that “the Group does not expect, over the long term, to remain a minority shareholder of assets in which it does not exercise an operational role”.
In July, it announced the start of the process to sell its Swiss unit, Orange Switzerland.
The Portuguese publication Diario Digital reported yesterday that a Sonae representative had said that the company had not been formally informed that France Telecom was planning to sell its stake in Sonaecom.
Sonae and Sonaecom were unavailable for comment before the press deadline.
